Ferrari (NYSE:RACE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ferrari (NYSE:RACE) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $507.14.

A number of research firms have weighed in on RACE. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in shares of Ferrari during the fourth quarter valued at approximately $141,000. Armis Advisers LLC purchased a new stake in Ferrari during the 4th quarter valued at $308,000. Garde Capital Inc. increased its holdings in shares of Ferrari by 5.0% in the 4th quarter. Garde Capital Inc. now owns 525 shares of the company’s stock worth $223,000 after purchasing an additional 25 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Ferrari in the fourth quarter worth $11,333,000. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Ferrari by 46.4% during the fourth quarter. Sunbelt Securities Inc. now owns 864 shares of the company’s stock valued at $369,000 after purchasing an additional 274 shares in the last quarter.

Ferrari Price Performance

Shares of NYSE RACE opened at $479.66 on Thursday. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The stock has a market capitalization of $116.92 billion, a P/E ratio of 52.42, a P/E/G ratio of 4.43 and a beta of 0.95. The company’s 50-day moving average is $448.41 and its 200 day moving average is $456.52. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. This represents a yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio is 5.63%.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.